Peab AB (publ) has repurchased 7,511,000 shares for around SEK 500 million between May 20 and November 18, 2022. Repurchasing has taken place after a decision by the Board, supported by authorization from the Annual General Meeting on May 5, 2022.
Repurchasing commenced on May 20, 2022 and took place regularly until November 18, 2022 when shares for a total of around SEK 500 million had been repurchased, equaling a total of 7,511,000 B shares.
The shares were repurchased on Nasdaq Stockholm according to the Nordic Main Market Rulebook for Issuers of Shares – Nasdaq Stockholm (Supplement D), EU Parliament’s and Council’s EU regulation nr. 596/2014 on market abuse (MAR).
The aim of the repurchasing was to improve the company's capital structure. One of Group targets, net debt/equity ratio, is that net debt in relation to equity according to segment accounting should be in the interval 0.3 - 0.7. As of September 30, 2022 the net debt/equity ratio was 0.4.
After the above acquisitions Peab’s holding of own shares is 8,597,984 B shares. The total number of shares in Peab is 296,049,730, of which 34,319,957 are A shares and 261,729,773 are B shares.
Peab commissioned Nordea Bank Abp to manage the repurchasing program. Completed repurchases have been reported to Nasdaq Stockholm according to valid regulations.
For further information, please contact:
Niclas Winkvist, CFO Peab, +46 73 384 75 00
Juha Hartomaa, Head of Investor Relations Peab, +46 725 33 31 45